September 15, 2019 5:00 am
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Chicago Fire Soccer Club and Village of Bridgeview Agree to Amended Stadium Lease

Posted by Editoron July 11, 2019in Business|Comments Off on Chicago Fire Soccer Club and Village of Bridgeview Agree to Amended Stadium Lease

The Chicago Fire Soccer Club and the Village of Bridgeview have agreed to an amended stadium lease that includes a significant contribution from the Fire toward the development of a multi-sport recreation and entertainment center in Bridgeview and higher annual lease payments to the Village. The deal also allows the Chicago Fire to play future home games and conduct team operations in other Chicagoland sports venues. The Chicago Fire will contribute $5 million to the Village to be used to refurbish and expand the existing soccer facilities around SeatGeek Stadium. Also, under the terms of the agreement Bridgeview would receive $60.5 million over the remaining term of the lease, including an upfront payment of $10 million. The team will continue its valued partnership with Bridgeview by training at the facility and by operating Chicago Fire Youth development programs there.

“SeatGeek Stadium will now have year-round availability for consistent high-revenue generating entertainment events for years to come,” said Mayor Landek. “Additionally, the expanded recreation venue will create even more growth opportunities for the Village. I’m extremely excited about the benefits this agreement will bring to our community and for the future of a sports team that all of us in Bridgeview and the region have come to love.”

“We are grateful to Mayor Landek and the residents of Bridgeview for our partnership,” said Chicago Fire Owner and Chairman Andrew Hauptman. “We’re glad we are able to strengthen our relationship while exposing even more fans to our Club and world-class soccer in a more centrally located Chicago stadium. Today marks the next chapter in the growth of the Club and the opportunity to play for more fans than ever in one of the world’s great cities.” The Village and the Club are preparing definitive legal agreements to implement the amended stadium lease.